Director’s Weekly Blog – 10th April 2017

FOB 75th Anniversary Dinner

We are delighted to announce details of the Federation of Bakers’ 75th Anniversary Dinner which will be held on Wednesday, 27th September at Fishmongers’ Hall, London Bridge EC4R 9EL.

The event will be attended by up to 175 bakery industry executives and guests for an evening of celebration and networking with industry colleagues, past and present.

This black tie event will begin at 6.15pm with a champagne reception, followed by a three course banquet with engaging speakers and musical entertainment. The evening will conclude with after dinner drinks and offers an ideal opportunity to engage with other industry stakeholders in a relaxed and convivial setting.

Tickets: We are now taking bookings for this event and tickets are available at £220 per seat or £2,200 for a table of 11 (one goes free). We are delighted to offer a 10% early bird discount on all bookings made before 30 April 2017 bringing the price down to £198 per ticket or £1,980 for a table of 11.

All prices exclude VAT.

Please note that ticket sales are not restricted to FOB members and the wider bakery industry and other stakeholders are encouraged to book tickets so please spread the word.

Numbers are limited so please book your tickets without delay to secure your place using the online booking facility on our website at: www.fob.uk.com

Sponsorship: We are delighted to announce AB Mauri as our headline sponsor along with our other generous sponsors for this event including Baker Perkins, Bühler, Kwik Lok, Lesaffre, Zeelandia and Zeppelin UK.

Hotel Accommodation: We have negotiated preferential rates at a number of hotels within easy reach of the venue using our events partner PRIORITY.

To view the rate card and book your hotel room please visit the events page at PRIORITY or contact them on 01473 550 620 and quote the event code: fbmb. Or you can download a copy of the Hotel Rate Card.

Economic News

Barclays Economic Update: The national accounts confirmed the q4’16 growth rate at 0.7%. as expected, the current account showed substantial improvement due to trade as well as the income balance as investment made abroad earned more than foreign investment made in the UK. Meanwhile, as consumers’ real gross disposable incomes stagnated in 2016, the level of consumption was maintained, reducing the saving rate to 3.3% of income and down 2pp from q3’16. The household confidence in q1’17 remained reasonably buoyant as the mar’17 reading was unchanged from feb’17 levels and still slightly above the long-term average, mitigating downside risk to consumption. Higher income tranches continue to report the biggest drop in confidence since the EU referendum vote but their marginal propensity to consume is also the lowest, mitigating the impact of this move on overall consumption. The Bank of England’s feb’17 lending report reflected a similar picture as consumer credit continued to grow at elevated levels (.10%). Leverage of the household sector increased over the last 12 months: household added £34bn of mortgages and £15bn of consumer credit, while disposable income increased by £32bn. The financial policy committee’s statement post mar’17 meeting indicated that these developments could represent risk and that it will look into them further as the PRA and the FCA are set to review underwriting standards and credit worthiness.

Brexit(1):MEPs vote on resolution: MEPs in Strasbourg approved the negotiating position of the EU, giving a mandate by 516 votes to 133. The resolution highlighted that the terms of the ‘divorce’ must be agreed before any trade deal with the EU27 is discussed and that EU citizens in the UK (and vice versa) must be given “full priority in the negotiations”. It also says the UK cannot have continued membership of the internal market or the EEA, or hold trade discussions with countries outside of or in the EU until it leaves.

Brexit(2):Understanding the Great Repeal Bill: The Great Repeal Bill will be announced in the Queen’s Speech (expected be Wednesday 17 May) and should be published swiftly after. The Government has produced a guidance for businesses to help prepare for the UK’s exit from the EU. The Institute for Government is another great resource, and has produced the following information on the government’s White Paper.

Other News

Food Standards Agency: Has published its 6th Chief Scientific Adviser’s (CSA) report, focusing on data science. Professor Guy Poppy’s report looks at exciting advancements being made in the field of data science, and how these developments play an increasingly important role in the FSA delivering on its statutory duties. Specifically, the report looks at several case studies that show how social media can be harnessed, as well as highlighting key partnerships that the FSA is forging in the field of data science. Finally, the report investigates important developments that are being made in the FSA’s surveillance strategy and the underpinning role of data. For more information on the report, please follow this link to the FSA’s web story: https://www.food.gov.uk/news-updates/news/2017/16129/science-report-published-on-use-of-data-science-in-the-fsa

Groceries Code Adjudicator Annual Survey 2017: The GCA’s annual survey is still open. The GCA wants to get the views of as many direct suppliers to the ten regulated retailers as possible. The survey closes on Monday 17 April. This survey is a really important source of information and it helps the GCA to determine where to focus her priorities in the year ahead. The results of the survey will be launched at the GCA annual conference on 26 June in Westminster, London. Registration for the conference is now open on the GCA website and is linked at the end of the survey.